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In a stark indication of ongoing economic challenges, the technology sector witnessed a wave of layoffs in April 2024, with over 20,000 employees losing their jobs across various companies. This surge in job cuts reflects a broader trend of layoffs in the tech industry, with at least 271 companies having let go of 78,572 employees since the beginning of the year, as reported by layoffs.fyi.
The latest data from layoffs.fyi revealed that 21,473 employees were laid off from 50 tech companies in April alone. This significant figure adds to the previous months’ job loss statistics, which saw 34,107 job cuts in January, 15,589 in February, and 7,403 in March. While March showed a slight decrease in layoffs, April experienced a notable uptick, highlighting the ongoing challenges faced by the tech workforce.
Several major tech giants contributed to the April layoffs:
- Apple: Apple made headlines with its first major round of job cuts since the onset of the Covid-19 pandemic, letting go of 614 employees. Most affected were the employees from Apple’s special projects group, including those working on a self-driving car project that was canceled.
- Google: Google underwent significant restructuring, resulting in layoffs across various teams, including Python, Flutter, and Dart developers. The company also reduced staff in departments like real estate and finance to cut costs.
- Amazon: In its cloud computing division, Amazon cut hundreds of jobs impacting sales, marketing, and technology teams related to physical stores. This move aligns with Amazon’s strategy to streamline operations and focus on core objectives.
- Intel: Approximately 62 employees were laid off at Intel’s headquarters, particularly from sales and marketing, amidst organizational restructuring led by Christoph Schell.
- Byju’s: Financial challenges and investor unrest led Byju’s, an edtech company, to lay off around 500 employees from sales, marketing, and teaching roles.
- Tesla: Tesla faced sales challenges and competition, resulting in thousands of job cuts across various departments to reduce its workforce by about 10%.
- Other Companies: Additional layoffs were reported at OLA Cabs, Healthifyme, Whirlpool, Take-Two Interactive, and Telenor, impacting hundreds of employees across different sectors.
These layoffs reflect the evolving dynamics and financial pressures faced by companies across industries, underscoring the need for workforce agility and strategic adaptation in a volatile economic landscape.
Sources By Agencies
